LOS ANGELES, CA / ACCESSWIRE / March 15, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of AT&T Inc. (''AT&T'' or ''the Company'') (NYSE: T) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. AT&T issued 1.185 billion new shares of stock in June 2018 directly to former shareholders of Time Warner in relation to its acquisition of that company. When it issued this stock, the Company touted growth in its Entertainment Group line of business, including claims that subscriber gains in its DirecTV Now service would meet or exceed losses of traditional DirecTV subscribers. In fact, the Company significantly raised prices while also eliminating discounts for DirecTV Now, resulting in subscriber loss. Since the Time Warner acquisition, shares of AT&T have declined as much as 16%.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm